How to report PPP loans and EIDL grants on corporate returns

celine389 · ‎06-05-2021

PPP loans are forgiven. Deductions are allowed. Do I need to show forgiven loan amounts. My financial reflects non taxable income, the PPP loan. Do I need to show the forgiven PPP loan on the corporate tax return.

IRonMaN · ‎06-05-2021

You need to show it on the return as a reconciling item between book income and taxable income.

Slava Ukraini!

qbteachmt · ‎06-05-2021

Here is your Help article:

https://proconnect.intuit.com/community/corporation/help/how-to-enter-forgiven-ppp-loans-in-lacerte/...

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celine389 · ‎06-07-2021

Got it

Thanks.

How to report PPP loans and EIDL grants on corporate returns

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